FBX Weekly: Rates climb as China’s factories stay open
By: AJOT | Feb 17 2021 at 08:00 AM | Maritime News | Liner Shipping
China-US ocean rates are climbing as China’s manufacturing stays open over
the Lunar New Year holiday. Rates to the US West Coast increased 6%, and are
up 22% since the end of the year. Asia-North Europe climbed 6% to a new high
of $8,455/FEU.
Air cargo rates Asia to the US are also increasing as factories are open to
meet demand, with Freightos.com marketplace data showing a 5% climb this week
and 50% increase since the end of January.
China-US rates:
China-US West Coast prices (FBX01 Daily) increased 6% to $4,709/FEU. This
rate is 218% higher than the same time last year.
China-US East Coast prices (FBX03 Daily) climbed 3% to $5,658/FEU, and are
exactly double the rate for this week last year.